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Veblen, Thorstein, 1857-1929

"Theory of the Leisure Class"


Under the modern, peaceable system, it is of course the peaceable
range of predatory habits and aptitudes that is chiefly fostered
by a life of acquisition. That is to say, the pecuniary
employments give proficiency in the general line of practices
comprised under fraud, rather than in those that belong under the
more archaic method of forcible seizure.
These pecuniary employments, tending to conserve the
predatory temperament, are the employments which have to do with
ownership -- the immediate function of the leisure class proper
-- and the subsidiary functions concerned with acquisition and
accumulation. These cover the class of persons and that range of
duties in the economic process which have to do with the
ownership of enterprises engaged in competitive industry;
especially those fundamental lines of economic management which
are classed as financiering operations. To these may be added the
greater part of mercantile occupations. In their best and
clearest development these duties make up the economic office of
the "captain of industry." The captain of industry is an astute
man rather than an ingenious one, and his captaincy is a
pecuniary rather than an industrial captaincy.


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